I'm single. My MAGI is $1M+. TT says my $8k contribution to Traditional IRA is deductible. That cannot be true, can it?

[guytax]

I have had 7 Tax experts tell me that my situation is a system glitch.  

But that does not help me.

What do I do to get it fixed?

[SusanY1]

It is deductible if you aren't covered by a retirement plan at work.  IRA Contribution and Deduction Limits.

If you are covered by a retirement plan at work, be sure to indicate this in the IRA contribution section of TurboTax or by checking the box "retirement plan" under neat the area for Box 13.
 

[guytax]

OMG!

Are you serious?

And I could not get that answer sooner!

Well thank you from the bottom of my heart.  And check book.

That turns into a nice little $3k credit if I choose deductible.

Or is there an upside to leaving it non-deductible in this situation?

[KrisD15]

It's up to you, pay the tax now or pay the tax later.

If you think your tax rate will go down, you'd most likely rather pay the tax on it later. 

[guytax]

Sorry - pay now or later?

[DaveF1006]

 No. There's no harm in leaving this as a non-deductible contribution. What KrisD15 meant was you can choose to treat this as a non-deductible contribution now with after-tax dollars than to deduct the contribution made with pre-taxed dollars and then pay tax on it later.

[guytax]

Thank you for your reply.

I don't know of any tax rate that will go down with time so I think I will make it non-deductible...